Bridgepoint-owned retailer FatFace Group Thursday pulled its plans to float on the London Stock Exchange, citing "current equity market conditions" as the reason for the move.

The UK fashion chain announced earlier this month that it planned to raise £110 million ($185.51 million) in its flotation, which it would use to pay off debt.

Fatface, whose chairman is former Marks & Spencer Group chairman Sir Stuart Rose, said the board remains confident in the prospects for the business and will continue to execute the growth plans which are already underway, adding that it had received a strong level of interaction with and interest from institutional investors.

The Hampshire-based firm, operates 208 retail stores across the UK and Ireland. In the 35 weeks to February 2, adjusted earnings before interest, tax, depreciation and amortization rose 28.2% on the year to £32.1 million, while comparable revenue rose 8.4%.